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Redevelopment Commission approves TIF expansions, forgivable loan and bond amendment; staff reports $8.6M INDOT payment
Summary
The commission approved three resolutions to expand a McCarty Lane TIF area and fund a forgivable loan (up to $1M for infrastructure, $95K for job training), amended bonding for the 9th Street project to add a debt service reserve, and noted staff made an $8.6M payment to INDOT connected to the 9th Street project.
The Lafayette Redevelopment Commission on April 23 approved a set of resolutions and contracts advancing several redevelopment projects and recorded a major staff-processed payment to INDOT related to the 9th Street project.
Dennis, director of the redevelopment commission, read Resolution LRC2026-07, a confirmatory resolution to add parcels to the McCarty Lane Southeast Industrial Expansion Tax Increment Financing (TIF) area in support of the sustaining project; the commission approved the resolution by voice vote, with at least one commissioner stating an abstention and noting they would avoid signing the document when it reaches the table.
Dennis then presented Resolution LRC2026-08, which pledges TIF revenues to fund a…
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